Debt Limit- Really?

It seems the markets are not taking this "Debt Stalemate" too seriously. The averages are holding up extremely well for such a perceived risk. It appears the media and the politicians are stirring up more dust than the financial markets. Does anyone REALLY expect the U.S. to allow a default? C'mon now- the U.S. markets have barely moved and the volatility index is sitting just over 19. The question becomes what happens after they approve raising the debt ceiling. The bulls and bears are wrapped so tight that there just isn't enough volatility to make any huge profits in here. Who would have thought a potential down grade from the rating agencies has little effect on the markets- I guess they lost mega credibility during the 2007 financial crisis when they had AAA ratings on everything. Boring is the word for today. We will keep looking and have some ideas. Check emails.